If your business deals with international clients, suppliers, or travels frequently, you have likely been charged excessive fees and poor exchange rates by traditional banks. Wise Business solves this problem.
What is Wise Business?
Formerly known as TransferWise, Wise is a financial platform that lets you hold, send, receive, and spend money in over 40 currencies using the real mid-market exchange rate, with no hidden markups.
Key Advantages
- Multi-Currency Accounts: Hold balances in GBP, EUR, USD, AUD, CAD, and many more.
- Local Banking Details: Receive payments as if you have a local account in the UK, EU, US, and other regions.
- Low Transfer Fees: Typically between 0.35% and 0.7% per transaction, compared to 3–5% charged by standard banks.
- Business Debit Card: Spend anywhere or withdraw cash; balances convert automatically at great rates.
- Accounting Integrations: Sync transactions directly to Xero, QuickBooks, or FreeAgent.
- Batch Payments: Pay multiple suppliers or team members in different currencies in one go.
Pricing
- Account opening and monthly maintenance: Free.
- Currency conversion: Small percentage fee based on currency pair.
- Receiving funds: Free for major currencies.
Who Should Use It?
Perfect for UK businesses selling overseas, importers, exporters, digital agencies, and freelancers with international clients. It is also useful for companies that travel or pay remote teams globally.
Final Verdict
Wise Business is the most transparent and cost-effective way to manage international money movement. It is faster and cheaper than any high-street bank and essential for cross-border trade.
Visit Wise Business here:
https://wise.com/gb/business